New Delhi: State Bank of India SBI Chairman Dinesh Khara received an extension of his tenure by the government on Thursday. He will serve in this position till August 2024. The approval comes ahead of the conclusion of his three-year tenure, on October 6, 2023.
Khara is the second chairman to receive an extension on his tenure, since Arundhati Bhattacharya. The Appointments Committee of the Cabinet (ACC) allows an SBI chairman to hold their post until the age of 63 years. Khara will attain 63 years of age in August next year.
The ACC also approved the extension of the tenure of Ashwini Kumar Tiwari as the managing director by two years, following January 27, 2024.
Khara received his Masters in Business Administration from the Faculty of Management Studies, Delhi University. He joined SBI as a probationary officer in 1984, gathering over 33 years of experience in every aspect of commercial banking, like retail credit, deposit mobilisation, international banking operations, SME/corporate credit, and branch management.
Under Khara’s watch, SBI recorded a profit of Rs 50,232 crore in financial year 2023, making 58.5 percent on-year growth. This is the first time an annual profit of over Rs 50,000 crore was reported by a bank.
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